Top brokers name 3 ASX shares to sell today

On Wednesday I looked at three shares that top brokers had given the much-coveted buy rating to this week.

Not all shares are in favour with brokers, though. Some have even been given the dread sell rating.

Three shares that brokers have rated as sells this week are as follows:

Automotive Holdings Group Ltd (ASX: AHG)

According to a note out of the Macquarie equities desk, it has retained its underperform rating and reduced the price target on the auto retailer’s shares from $2.00 down to $1.50. The broker made the move after Automotive Holdings’ trading update revealed challenging trading conditions. And although its shares come across as being good value, it doesn’t believe there are many catalysts that will lead to a positive re-rating in the near term. In addition to this, the broker has questions over the company’s balance sheet and ability to maintain its current dividend.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

A note out of UBS reveals that it has retained its sell rating and reduced the price target on this medical device company’s shares slightly to NZ$12.30 (A$11.53) following the release of its half year results. Although Fisher & Paykel Healthcare’s result was in line with the broker’s estimates, this was largely down to lower research and development expenses. Looking ahead, UBS appears concerned that FY 2020 could be impacted by delays to mask product releases and margin pressure from investments in IT systems and manufacturing facilities.

JB Hi-Fi Limited (ASX: JBH)

Analysts at Citi have retained their sell rating and $21.30 price target on this retailer’s shares following the release of a sales update from rival Harvey Norman Limited (ASX: HVN). According to the note, Citi believes JB Hi-Fi will struggle to deliver positive sales in the current quarter due to the strong performance in the prior corresponding period. Especially given its belief that the company is losing share in television sales and the impact of declines in smart phone sales due to the push out in the replacement cycle.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Automotive Holdings Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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